EU to send 160 million euros from frozen Russian assets to Ukraine

The sum of 160 million euros from the proceeds of frozen Russian assets will be allocated to meet Ukraine’s urgent humanitarian needs for this winter, European Commission President Ursula von der Leyen said on Thursday.

She added that a fuel power plant is being dismantled in Lithuania and will be rebuilt in Ukraine, where 80% of the country’s thermal plants have been destroyed.

“We aim to restore 2.5 gw of capacity, which is 15% of Ukraine’s needs,” Von der Leyen said.

Germany set to approve 397 million euros in Ukraine military aid

Germany is set to approve close to 400 million euros ($445 million) in military aid to Ukraine, according to a letter seen by Reuters on Thursday.

“In view of the continuously deteriorating military situation in Ukraine, there is a serious risk that Ukraine, without significantly increased material support, could be defeated in its defence campaign,” the letter said.

The finance ministry, following a request by the defence ministry, is asking for the approval of the extra expenditure by the budget committee of the lower house of parliament.

“The resulting unplanned need of around 397 million euros has only become concrete in the last few weeks to the extent that it meets the constitutional and budgetary requirements of an unplanned need,” the letter shows.

This must be satisfied immediately to implement the measures in 2024 so they can have an impact during the remainder of the year, the finance ministry said.

German aid to Ukraine was budgeted for around 8 billion euros in 2024.